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Retirement Form Trumps Will or Trust

If you like gambling with cards, don't carry that over to your designated IRA or Retirement fund beneficiaries. We all know a full house trumps a straight in poker. But did you know this, a Retirement form trumps a Will or Trust? That's right. If you are considering the designation of your Retirement fund in a Will don't waste the ink. It won't work. There are cases in which a divorcee failed to change his or her Retirement fund beneficiary from a now divorced spouse.

The IRA Tax Trap- Designating the Living Trust as the IRA Beneficiary

       Remember when you arranged that IRA with the financial institution and received a "bunch of papers"? Yeah, one of those "bunch of papers" was a Beneficiary Designation form- now remember? Okay, I'm going to ask you 3 questions which can have devastating results depending on your answers.

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